Pre-Close Trading Update

RNS Number : 3957W

Immotion Group PLC

18 August 2022

 

Immotion Group plc

("Immotion", the "Company" or the "Group")

Pre-Close Trading Update

Immotion, the UK-based immersive entertainment group, is pleased to announce an update on recent trading.

Unaudited revenue at the Group's core Location Based Entertainment ("LBE") business for H1 2022 almost doubled to £4.4m (from £2.3m in H1 2021).

In addition, the LBE business is currently enjoying very strong trading in the key summer period, with unaudited July 2022 revenue of £1.3m being the division's best ever month. This takes unaudited LBE revenue for the seven months to 31 July 2022 to £5.7m, a 78% increase from £3.2m in the equivalent period in 2021. 

August 2022 has also started very strongly.

Furthermore, we recently completed two small-scale installations at Chester Zoo and Legoland Discovery Center Philadelphia and so the Group now has 488 seats across 54 locations. The Group has visibility on a pipeline of new sites and additional seats at certain existing sites. Should all these developments materialise, the Directors expect that the Group will comfortably pass the 500 seat mark by the end of H2 2022.

As announced on 26 April 2022, the Directors have made the strategic decision to spin out both the Home Based Entertainment ("HBE") and Uvisan divisions of the Group and discussions on both businesses are at an advanced stage. Further updates will be provided as appropriate.

The Group expects to release its H1 2022 unaudited results during the week commencing Monday 26 September 2022.

Martin Higginson, CEO of Immotion, commented: "The first six months of the year have shown solid year-on-year improvement and, with July exceeding all previous revenue numbers, the summer trading period is looking very encouraging.

"Demand for the Group's core LBE offering remains strong and, with solid operating cash flow generation from the key summer months, we are now well positioned for further installations and growth of the LBE estate."

Enquiries:

For further information please visit www.immotion.co.uk , or contact:

Immotion Group plc	Martin Higginson David Marks	[e-mail]
WH Ireland Limited (Nomad and Joint Broker)	Jessica Cave Antonio Bossi Darshan Patel Ben Good	Tel + 44 (0) 207 220 1666
Alvarium Capital Partners (Joint Broker)	Alex Davies	Tel: [phone]

Shard Capital Partners LLP (Joint Broker)

Damon Heath Erik Woolgar

Tel: [phone]

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

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